Respected financial services veteran Bob McKinnon has joined the platform’s Board as its new Chairman.

His extensive experience strengthens the board of directors, joining existing members, seasoned advisory board member and banking executive Alicia Aitken and insurance industry professional Daniel Johnson.

McKinnon is currently a non-Executive Director and Chair (Audit & Risk Committee) at AMP Capital Funds Management and a non-Executive Director and Chair (Board Audit Committee) at Sydney Metro. He is the Co-founder and Director of Mirin Digital, a boutique technology advisory firm he started almost a decade ago.

“Joining Cloudfloat was an easy decision for me,” McKinnon says.

“Small businesses are the engine room of the Australian economy and are critical to our nation’s prosperity, but for too long their working capital needs have been under serviced by the banking industry.

“Cloudfloat understands this gap in the market and has developed an innovative business model and customer focussed servicing platform that helps small businesses easily access the working capital assistance they need to thrive.”

Cloudfloat serves an underserved part of the community, providing small to medium enterprises (SMEs) easy to access hassle-free cash flow at the time of paying for any business transaction. The Cloudfloat platform allows its customers to pay for goods and services on time, every time, instead of delaying the payment. The customer can then make fortnightly repayments with up to 90-day terms.

Suppliers can offer their business customers flexible payment terms without any risk, solving cash flow challenges and allowing businesses to grow.

Founder and CEO of Cloudfloat, Aleem Habibullah, has 20 years of experience in banking and finance, specialising in business lending and transactions, and he welcomes the wealth of knowledge and experience Bob McKinnon will bring to the team.

“Bob’s experience in banking technology is unrivalled,” Habibullah says.

“He’s one of the most respected leaders in financial services, known for being a straight-talker and executing major technology restructures. He’s a huge coup for our team and we’re excited to dig into that depth of knowledge.”